31 Pa. Code § 81.1 - Purpose
The purpose of this chapter is to:
(1) Regulate the activities of insurers,
agents and brokers with respect to the replacement of existing life insurance
and annuities.
(2) Protect the
interest of life insurance and annuity purchasers by establishing minimum
standards of conduct to be observed in replacement transactions by:
(i) Assuring that purchasers receive
information with which a decision can be made in the purchasers' best
interest.
(ii) Reducing the
opportunity for misrepresentation and incomplete disclosures.
(iii) Establishing penalties for failure to
comply with this chapter.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.